Tata has at least two rumored competitors for these brands. The private equity firm Ripplewood Holdings has hired Former Ford president and Jaguar exec Sir Nicholas Scheele to help with its offer. According to the London Independent, One Equity Partners LLC, the private equity side of JP Morgan Chase, is also putting together a bid with former Ford CEO Jacques Nasser at the helm. A final decision on the sale is still months away, according to Ford.
Tata Group owns 96 companies, employs over two million people and has a market cap of over $50 billion. Tata Motors has been building cars since 1945, with revenues of $5.5 billion in 2006. In 2004, it acquired Daewoo Commercial Vehicle Company, and owns a stake in Spanish bus manufacturer Hispano Carrocera. The company has stated its intent to bring to market a $2,500 car to emerging markets by next year.
Buying Jaguar and Land Rover would do more for Tata than give it international access; it could lend the company the credibility to gain immediate acceptance in the burgeoning vehicle market worldwide.
